[chris08876]

Jersey City Redevelopment Agency, NJ -- Moody's assigns Aa3 long-term and MIG 1 short-term ratings to Jersey City Redevelopment Agency (NJ) city-guaranteed bonds and notes; outlook stable

Rating Action: Moody's assigns Aa3 long-term and MIG 1 short-term ratings to Jersey City Redevelopment Agency (NJ) city-guaranteed bonds and notes; outlook stableGlobal Credit Research - 27 Dec 2021 New York, December 27, 2021 -- Moody's Investors Service has assigned a Aa3 to the Jersey City Redevelopment Agency's $57.0 million Revenue Bonds, Series 2022 (Bayfront Redevelopment Project) (City Guaranteed), a Aa3 to its $56.7 million Project Note, Series 2022 (Bayfront Redevelopment Project) (City Guaranteed), and a MIG 1 to its $10.1 million Project Note, Series 2022 (Bayfront Redevelopment Project) (City Guaranteed) (Federally Taxable). The bonds and notes are guaranteed by the city of Jersey City.

The city's underlying outlook is stable. RATINGS RATIONALE The Aa3 rating reflects the city's strong, stable finances, a healthy and growing tax base, moderate long-term liabilities and above-average fixed costs. Resident wealth and income are below-average; however, much of the new development is of a very high-end residential type, which should improve those metrics.

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https://finance.yahoo.com/news/jerse...9RO_0anxsD4r4U